Of course it depends on what they actually include into the second movie, but considering what GDT said, it seems this title would be appropriate.

It's interesting in a way, because what we would learn in the second movie, could potentially give a new whole meaning to the Hobbit for non-readers. It could be a good surprise for them. Imagine this, a few small reference throughout the first movie concerning this mysterious necromancer in the south of Mirkwood. People will like the story, but I'm sure more than a few will feel the connection to the narrative of LOTR is rather small (No Sauron, the ring is not at stake). Second movie comes and the grand scheme behind it all is revealed as we watch Gandalf in Dol Guldur...